Stadium Nissan Calgary: Leasing Vs. Financing…What’s Best?

Leasing and financing both make cars affordable for the average person. Few people today can afford to pay cash for a new car, which is why so many drivers either lease or finance their vehicles. Whether leasing or financing is the best option, though, depends on your situation. If you are looking for a new Nissan in Calgary, see which of these two situations better describes your circumstances.

Leasing: Lowest Monthly Payments and Regular Upgrades

Leases last for a specific amount of time, typically three years. In a lease, drivers borrow the amount of money that the car will depreciate during that time. Then, over that time, they pay that amount back to the dealer in monthly increments. At the end of the lease, the car is returned to the dealership.

Leasing is the best option for people who want the lowest monthly payments possible. Because in a lease only a portion of the car’s total value (its expected depreciation) is borrowed, the monthly payments are much smaller. Depending on the current deals and rebates offered by Nissan, Calgary dealers are often able to put drivers in a brand new car or truck for less than they spend on groceries each month.

Leasing is also a great option for people who like to always have the latest model vehicle. Because leases usually last for three years, you are able to upgrade your car every three years. If you sign another lease with the same dealership in Calgary, Nissan may offer you nice loyalty incentives. This makes upgrading to a new car an easy decision.

If you do not have much spare cash on hand right now, or if you want another new car in just a few years, then leasing may be the best option for you.

Financing: High-Mileage Drivers and Ownership

When financing a car, it typically takes longer to pay off the loan than a lease lasts. A typical car loan may take five years to pay off, although specific terms vary from loan to loan. When compared to other forms of borrowing, car loans have some of the lowest interest rates possible.

Many drivers who put a lot of miles on their cars choose to finance their vehicles. Unlike leasing, there is no mileage limit with leasing, because you own your car.

Ownership is the biggest advantage of financing a car. After the loan is paid back, you own your car outright. You can sell it, trade it in, or keep driving it – without any more monthly payments!

If you want to one day be free from monthly payments, or if you often drive long distances, financing may be your best choice.

Deciding: Contact a Salesperson

These are just the general benefits of leasing and financing. To discuss the finer details of either option, contact a salesperson at Stadium Nissan. As the leading Nissan dealership in Calgary, they can help you find the best lease or financing terms Nissan is currently offering.

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